Vacations are the perfect getaway from the hustle and bustle of everyday life. Whether it is a small weekend trip or a long fortnight vacation doesn’t matter, what matters is the fact that it rejuvenates the person and he comes back fresh to face life head on. Trips are not only for luxury or fun, many people across the world travel for business purposes too. Whether the journey is for business or leisure, one element that persists with any type of trip is travel insurance. Travel insurance is not a luxury, it is a necessity as it protects the person from uncertain and unforeseen events that may occur during travel.

Before purchasing a travel insurance policy, it is important to have some knowledge about the different travel insurance plans as not every insurance plan suits every traveler’s needs and pocket. Travel insurance plans can be basically classified as –

• Medical Coverage Travel Insurance – This type of insurance covers the expenses incurred if the beneficiary falls ill or gets injured on the trip. There are several types of coverage under this insurance but most travel insurance policies at least cover medical and dental expenses. One of the most commonly provided coverage is coverage for  medical evacuation in case of emergency which covers the cost of transporting a person from a remote area to the nearest possible medical facility available. It is very important for adventure and cruise travelers. Another commonly provided coverage is for accidental death and dismemberment which covers the cost of transporting the person back and also pays the beneficiary a set amount in case of the insured person’s death.

• Trip Protection Insurance – Many times a person has to cancel his planned trip or leave it in between due to unexpected events and to avoid monetary loss in such cases, trip protection insurance is important. It includes coverage for trip cancellation, trip delay and trip interruption. This insurance is best for travelers who have planned their trip well in advance or are planning a trip to a place known for bad weather conditions. Longer the duration of the trip, higher are the chances of an unforeseen event occurring, hence, in these cases also a trip protection insurance becomes important.

• Luggage/Baggage Loss and Theft – This type of insurance covers the risk of loss or misplacing of luggage and personal belongings while on the trip. So, if a person losses his baggage on the trip he can claim compensation of its monetary value from the insurance company. There is also a separate coverage for theft or loss of important documents like passport and visa.

With the numerous insurance companies offering varied insurance plans, it is important to choose a plan that suits the person’s requirements and a knowledge about the types of policies and coverage helps in making well informed and wise decisions.